Govt orders legal action against Yunus for tax evasion

DHAKA, Sept 9: The Cabinet on Monday ordered legal action against Nobel laureate and former managing director of Grameen Bank Dr Muhammad Yunus for evading income taxes.

Cabinet secretary Mohammad Musharraf Hossain Bhuiyan said Dr Yunus earned over Tk 50 crores in seven years--from 2004 to 2011--from 153 foreign institutions as honourium, royalty and gift, and got tax exemption of Tk over 12 crore.

He made this comment at a press briefing at the secretariat.

During the period Yunus was the Managing Director of Grameen Bank and did not take permission from the authorities concerned before his visits abroad, he added.

He referred to a National Board of Revenue report on Yunus’ tax-related file.

The Cabinet Secretary said according to the report, Yunus enjoyed tax exemption as a wage earner, but he did not take permission of the government which is why he cannot enjoy such facility.

The Cabinet also ordered legal action against him also for his submission of tax return , where information he provided was not proper.
Bangladesh Bank and NBR were asked to take action again Yunus in this regard.

risingbd/sza